The Internet and credit and debit card payments have become staples upon which modern commerce relies. As a result, data security has become a paramount concern and exposure point for businesses and individuals a like. An intersection of these market forces and risks is when making payments online through web browsers or apps or via other mechanisms. Card transaction processors charge higher transaction fees when a payment card is not present, as opposed to lower fees when the payment card is present. Large volumes of transaction data may reveal that greater risk of fraud exists in transactions where a payment card is not present, but the risk still exists with regard to each transaction regardless of whether a card is present as the criminal community has become very adept at their craft. Regardless, merchants pay these higher fees, which erode profitability, even though they have little ability to enhance transaction security.
Advances have been made in both fraud prevention technology development and deployment in recent years. However, these technology development and deployment advances have been few in the areas of online and app-based commerce. Even outside of online and app-based commerce, despite advancements in, and deployment of, mobile payment solutions, security gaps remain.